Games - Peru | Statista Market Forecast

Games - Peru

Peru

Highlights

In Peru, revenue in the Games market is projected to reach US$731.10m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.13%, resulting in a projected market volume of US$1.03bn by 2029.
In global comparison, most revenue will be generated United States, with a figure of US$128.10bn in 2024.
In Peru's Games market, the number of users is expected to amount to 17.1m users by 2029.
User penetration will be 41.1% in 2024 and is expected to hit 47.0% by 2029.
The average revenue per user (ARPU) in Peru is expected to amount to US$548.10.
In Peru, the gaming industry is experiencing significant growth, driven by increasing mobile penetration and a rising interest in esports among the youth.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Games market in Peru has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Peru have shifted towards gaming as a popular form of entertainment. With the increasing availability of affordable smartphones and internet access, more Peruvians are able to access and play mobile games. Additionally, the rise of social gaming has also contributed to the growing popularity of gaming in the country. Peruvians enjoy the social aspect of gaming, connecting with friends and family through multiplayer games. Trends in the market indicate a strong demand for both mobile and console gaming in Peru. Mobile gaming has become particularly popular due to its accessibility and convenience. The ability to play games on the go has resonated with Peruvian consumers, leading to a surge in mobile game downloads and in-app purchases. Console gaming, on the other hand, appeals to gamers who seek a more immersive and high-quality gaming experience. The demand for consoles and console games has been steadily increasing in Peru, with a growing number of gamers investing in gaming consoles and accessories. Local special circumstances in Peru have also contributed to the growth of the Games market. The country has a young population, with a significant percentage of the population falling within the gaming demographic. This has created a large and growing market for gaming products and services. Additionally, the increasing availability of high-speed internet and the expansion of e-commerce platforms have made it easier for Peruvian gamers to access and purchase games. Underlying macroeconomic factors have played a role in the development of the Games market in Peru. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. As a result, more Peruvians have the financial means to invest in gaming devices and software. Furthermore, the government has implemented policies to promote the digital economy, including measures to improve internet infrastructure and support the growth of the technology sector. These initiatives have created a favorable environment for the Games market to thrive. In conclusion, the Games market in Peru is experiencing significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing popularity of mobile and console gaming, coupled with a young population and favorable economic conditions, has created a thriving gaming market in Peru. As the market continues to evolve, it presents opportunities for both local and international game developers and publishers to cater to the growing demand for gaming products and services in the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.